Food price inflation in Canada projected to be lower in 2024 | CityNews Montreal ...Middle East

Food prices are going up. The average family of four in Canada is expected to spend over $16,000 on food in a year. That’s about an extra $700 in spending at the grocery store compared to 2023. This from Canada’s Food Price Report 2024. It predicts food prices will increase between 2.5 and 4.5 per cent in 2024. Down from the five to seven per cent increase in 2023.  “A little bit of it relates to the fact that commodity prices have largely come down in a lot of the key food ingredients and food categories,” said Stuart Smyth, an agricultural and resource economics professor for the University of Saskatchewan, adding, “as an example wheat prices have come down about 25 per cent over the cou

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